Nasscom invites Australian companies for ventures in India
IT industry body Nasscom has invited Australian companies to look for ventures and exploring market opportunities in India.
"There is a potential for partnership and pool of capitals is already available in India for investment for such ventures," NASSCOM Chairman Som Mittal was quoted as saying.
Som Mittal, who will be visiting Sydney next week over CeBIT Tech trade fair 2012 along with representation of over 70 Indian companies, suggested that the best strategy for Australian firms looking for a presence in India was to come with an attitude of creating new markets.
He asked the companies to analyse Australian winemakers who he said had made a market in India from scratch.
"Local tech firms could follow suit and take advantage of India's rapidly developing tech economy," he said, according to the report.
"India is not a wine country, but these days I see Australian wines are readily available here," he said while pointing out to mobile device software development as one area that was likely to boom.
While there were more than 900 million mobile phone users in India, Mittal said most of the devices were voice-only and that the emerging smartphone market would require a large software development and localisation effort.
He said Indian firms such as Mahindra Satyam, Tata and HCL Australia employed about 7,000 people in Australia, both locals and those on limited-term work visas.
India is Australia's fifth-largest trading partner and bilateral trade between the two has risen annually by over 18 per cent over the past five years.
India is the partner country for CeBIT Australia trade fair 2012 and will be attended by IT Minister Kapil Sibal.
CeBIT Australia's 2012 theme will be "Trust and Security", an issue facing all business today, as more and more processes are moved into cloud, the report said.
India is this year's partner country at the show and about 70 Indian tech companies will be there.
CeBIT Australia this year is aiming for more than 520 exhibitors and more than 30,000 business visitors.